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Author Topic: Mission filing for bankruptacy  (Read 1154 times)

Richard230

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Mission filing for bankruptacy
« on: September 15, 2015, 08:47:02 PM »

Here are Autoblog's comments regarding Mission Motorcycle filing for bankruptcy: 

http://www.autoblog.com/2015/09/14/mission-motorcycles-powers-down-files-for-bankruptcy/
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Richard's motorcycle collection:  2014 14.2 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

teddillard

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Re: Mission filing for bankruptacy
« Reply #1 on: September 16, 2015, 03:00:10 PM »

I spoke with Domenick about this.  He's not entirely certain Seeger has actually filed, either.  The only reports we can actually find are that he said he was going to in a letter to the court handling the countersuit filed by Ip. 

...the funny things you learn when you read the source, rather than AR's "take" on the source:
http://www.northjersey.com/news/business/electric-motorcycle-company-co-founded-by-fort-lee-man-in-trouble-1.1405656
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Richard230

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Re: Mission filing for bankruptacy
« Reply #2 on: September 16, 2015, 08:43:35 PM »

Its a nasty business being in partnership with some people.  I seem to recall that Corbin went though something similar with his partners in their startup three-wheel vehicle (first gas then electric) business some years ago.  But in his case his seat business seemed to be unaffected.  Only the electric vehicle part of his business ventures seems to have floundered.  It took a long time but eventually the court process seems to have been resolved. ???
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Richard's motorcycle collection:  2014 14.2 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

CrashCash

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Re: Mission filing for bankruptacy
« Reply #3 on: September 16, 2015, 09:25:07 PM »

But in his case his seat business seemed to be unaffected.
And that is why you organize different business ventures as completely different companies, which AFAICT is what saved his butt. That meant they couldn't go after his seat business in a lawsuit.
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teddillard

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Re: Mission filing for bankruptacy
« Reply #4 on: September 22, 2015, 02:21:28 AM »

Still no confirmation he's actually filed, though I have some extensive feelers out on it.  In the meantime I found this story, using Mission as a case study for startup woes: http://insideevs.com/mission-startups-fail-commentary/
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